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This Is Why I Am Shorting $FB Hard

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of Facebook Inc (NASDAQ:FB) have run sharply higher on hopes of stellar earnings. At $160.00, the chart tells me to short it. In other words, earnings may not be what investors hope. The stock is into a major trend line on the daily chart that has been hit three other times. Each time the stock has hit this trend line, it pulls back sharply. Based on valuation metrics, technical signals and this trend line, I am initiating a heavy short on shares of Facebook Inc at $160.00. My downside target will be $147.50. This is a swing trade I expect to play out within weeks.

View ALL of my trades and Verified performance right now, click here.

Verified Investing sell short trade on Facebook Inc shares


This article was written by Tony Jackson for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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